Canadian pension fund Caisse de dépôt et placement du Québec has acquired, through a public offering, the subordinate voting shares of Cable Satisfaction International (CSI), or 2.27% of the outstanding shares of this class at a price of $4 per share.
Caisse’s subsidiary, CDP Global Asset Management, has also acquired 0.14 % of CSI’s outstanding shares at a price of $4.05 a share.
Capital Communications CDPQ, another Caisse subsidiary which already holds 15,544,287 subordinate voting shares in CSI, has subscribed, by way of private placement, to 9,375,000 subordinate voting shares of the company at a price of $4 a share.
These acquisitions bring the joint interest of Caisse to 27,516,564 subordinate voting shares, or 35.45 % of the outstanding shares of that class. Also, if Capital Communications were to exercise its privilege with respect to each warrant, the total interest of the Caisse in the company would reach 35.62 % on a partially diluted base.
Caisse confirmed that these transactions were made for investment purposes and the fund and its subsidiaries could increase or decrease their investments in CSI, depending on market conditions or any other relevant factor.
By Janet Du Chenne
Johnson Controls International has appointed XPS Pensions as investment and actuarial adviser for two of its schemes, following a competitive tender process.
Merseyside Pension Fund has allocated an initial £400m of assets to a smart sustainability fund managed by State Street Global Advisors (SSGA).
This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.
Buck has launched a solution to help pension schemes equalise guaranteed minimum pensions (GMPs) in a cost effective way with minimum hassle.